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Proto Resources & Investments Ltd, Iron Ore Production Update as Nickel Rises

The Board of Proto Resources & Investments Ltd (“Proto”, the “Company”) (ASX:PRW) is
pleased to announce an update in regards to the iron ore production plans of Proto’s 100% owned Barnes Hill mining licence. Proto have been in discussions with Robbins Metallurgical and have recently signed a service agreement. This week samples from the Barnes Hill project were received by Robbins Metallurgical, the testing currently being undertaken of these samples aims to further ascertain the potential of producing a Fe product with greater than 55% Fe with reduced contaminants to be evaluated by the effect of gravity separation and magnetic separation.
In addition to this Proto is discussing with Pitt & Sherry the completion of a traffic assessment report to assist with the permitting licences with the Tasmanian government. Proto is targeting to have the testing and plant design/process flow sheet completed by 1 July 2014. In the second half of calendar year 2014 Proto aims to complete the plant construction and produce the first saleable product subject to market conditions.
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